Coindesk

Proof-of-stake blockchain Cardano will switch to decentralized governance later Wednesday after the Plomin hard fork takes effect, Cardano Foundation, a non-profit organization backing the project, said on X."The Plomin hard fork takes effect, marking the transition to full decentralized governance. ADA holders gain real voting power – on parameter changes, treasury withdrawals, hard forks, and the blockchain’s future," Cardano Foundation said. " A milestone in blockchain governance."Cardano's ADA token changed hands at 93 cents at press time, up 1.4% on the day, according to data from CoinDesk and TradingView. A hard fork is a non-backwards compatible change to the blockchain's programming.The Plomin hard fork needs Stake Pool Operators to upgrade their nodes and approve the upgrade with a 51% vote....

Digital asset exchange Crypto.com said it will suspend certain token services deemed to be unauthorized in terms of the European Union's Markets in Crypto Assets legislation (MiCA) in a statement to its clients on Tuesday.The statement said that from Jan. 31, it will no longer offer certain services from stablecoins, like Tether USDT, Paypal USD, Pax dollar alongside Crypto.com Staked ETH and Crypto.com Staked SOL. CoinDesk reached out to Tether, Paypal and Paxos for a comment.Exchanges are required to follow the European Unions bespoke rules for crypto assets known as MiCA that require stablecoin issuers and staking service providers to have the necessary authorization in order to be accessed by Europeans. The rules impact all 30 nations in the European...

The M2 money supply increased in December to $21.5 trillion, just shy of its all-time high. The M2 money supply measures the total amount of money in circulation within an economy, including both liquid and less liquid assets. Meanwhile, the CPI index tracks the average price change of goods and services over time, which indicates inflation.Continued growth in the M2 money supply is a bullish indicator for risk assets as it indicates more liquidity is entering the system, which typically finds itself in risk-assets first.The M2 money supply has clocked in a new monthly high every month since January 2024. The M2 money supply influences CPI by affecting inflation trends. While the Federal Reserve is actively tightening through quantitative easing...

YZi Labs, the rebranded venture capital arm of crypto exchange Binance, made its first investment following founder Changpeng "CZ" Zhao's release from prison, Fortune reported on Wednesday.The company formerly known as Binance Labs led a $16 million funding round into Sign, a startup that seeks to simplify token distribution and bring verification of credentials on-chain, according to the report. “Proper distribution builds trust, and verification is an essential part of it. As more people move on-chain, this is a critical part of the foundational infrastructure,” Zhao, said in an email, according to Fortune's report. The rebrand to YZi Labs means the firm has turned from being the exchange's venture capital arm into the family office of Zhao and Binance co-founder...

Dogecoin (DOGE), the largest memecoin by market cap, dropped below a short-term uptrend line on Monday, signaling an end to the recovery from December lows and potentially the conclusion of a five-month rally.Since then, prices have dropped below the 38.2% Fibonacci retracement level of the run that started in August and touching highs about 48 cents in December before dropping back. A golden rule of technical analysis says that for a market to maintain its current trend, it must hold above that level. If it fails to do so, the trend is said to have ended.The moving average convergence divergence (MACD) histogram is printing deeper bars below the zero line, another indication of strengthening bearish momentum. Five- and 10-day simple...